Connect with us

Hi, what are you looking for?

CleanTechnica
The corporate venture capital arm of the Bosch group, Robert Bosch Venture Capital, has announced that it has increased its financial stake in the Israel-based startup Allegro.AI, a firm focused on AI deep learning in relation and as applied to computer vision tech.

Autonomous Vehicles

Robert Bosch Venture Capital Ups Stake In Allegro.AI

The corporate venture capital arm of the Bosch group, Robert Bosch Venture Capital, has announced that it has increased its financial stake in the Israel-based startup Allegro.AI, a firm focused on AI deep learning in relation and as applied to computer vision tech.

The corporate venture capital arm of the Bosch group, Robert Bosch Venture Capital, has announced that it has increased its financial stake in the Israel-based startup Allegro.AI, a firm focused on AI deep learning in relation and as applied to computer vision tech.

The Ramat-Gan based startup now claims to possess the world’s first “end-to-end artificial intelligence (AI) lifecycle management solution,” it should be noted — no doubt part of the reason that Robert Bosch Venture Capital has now invested further funds in the company.

With the new funding taken into account, the firm has now collected a total of $11 million in investments from a variety of prominent venture capital arms — including Robert Bosch Venture Capital, Samsung Catalyst Fund, Mizmaa Ventures, Dynamic Loop Capital, and JumpGate Ventures.

The managing director of Robert Bosch Venture Capital, Dr Ingo Ramesohl, commented on the news: “One key challenge in deep learning based solutions available in the market today, is that ‘learning’ stops when products — for example security cameras or autonomous vehicles — are deployed to the field. Providing deep learning solutions for computer vision that function in real-world scenarios is an industry wide challenge, and of strategic importance to Bosch.”

The press release provides more: “Allegro.AI helps to bridge the gap between lab and field in deep learning, as well as the debilitating shortage in highly trained data scientists, both of which are inhibiting the introduction of next generation computer-vision based products. Allegro’s technology enables for the first time to implement continuous-learning computer vision processing in real-life situations on edge devices — e.g., in self driving cars or security cameras. The company also provides automation tools for data scientists‘ time-consuming tasks.”

The new funding will reportedly be used by Allegro.AI for the further development of the company’s deep learning computer vision platform, as well as for further hiring work.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Batteries

The head of mobility for Bosch warns the world needs an alternative to lithium-ion batteries in order to avoid a supply disruption.

Clean Power

The C&I solar sector is really starting to take off now in South Africa. More companies are installing solar at their factories, offices, mines,...

Clean Power

The sun continuously transmits trillions of watts of energy to the Earth. It will be doing so for billions more years. Yet, we have...

Clean Transport

Bosch is betting big on South Carolina.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.